Red Sea Oil Panic Is Overblown
Despite the waterway’s renewed importance, global crude flows may not be hit nearly as hard as feared.
Handout footage reportedly shows the capture of an Israel-linked cargo vessel in the Red Sea.
Photo: ANSARULLAH MEDIA CENTRE/AFP via Getty Images
Welcome to Energy Daily, our guide to the energy and commodities markets powering the global economy. Today, Bloomberg Oil Strategist Julian Lee looks at the impact on crude flows of recent attacks against shipping. To get this newsletter sent to your inbox, sign up here.
Oil’s getting a lift from attacks on shipping in the southern Red Sea, but it may not last.